Health Savings Account Archives - Employee Benefits I AP Benefit Advisors

IRS Expands List of Preventive Care for HSA Participants

Please note:  In prior guidance, the IRS/Treasury have not included preventive care services or benefits meant to treat an existing condition.  With Notice 2019-45 that is changing for the better. Important Factors:   Under a notice issued Wednesday, July 17, 2019, HDHP enrollees can deduct contributions to a HSA (Health Savings Account) for some care […]

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Threats to Health Care Consumerism & What to Do About Them

Healthcare consumerism has come a long way. According to a recent large-employer survey, 72% of large employers will offer a consumer directed health plan (CDHP) by 2019, up from just 20% a decade earlier. And, there are even bolder predictions elsewhere. The 2018 Large Employers Health Care Strategy & Plan Design Survey suggests that 97% […]

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The Uncertain Future for HSAs in Maryland

November 9, 2017 – Introduction:  In the 2016 the MD General Assembly passed the States Contraceptive Equity Act to prevent discrimination in insurance coverage for male and female contraception. That law is set to become effective on January 1, 2018, and required health benefit plans to provide coverage for male sterilization without applying a copayment, […]

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IRS Increases HSA Limits for 2018

With IRS Rev. Proc. 2017-37, the IRS provided several new increases to various categories that Individuals and Families may elect into a Health Savings Account (HSA) if they have a compatible HDHP (High Deductible Health Plan). For 2018, the annual contribution limitation for a person with self-only coverage under a high-deductible health plan is $3,450, […]

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Health Savings Account (HSA) Eligibility Rules

Many employers offer high-deductible health plans (HDHPs) to control premium costs, and then pair this coverage with a health savings account (HSA) to help employees with their care expenses. An HSA is a tax-favored trust or account that can be contributed to by, or on behalf of, an eligible individual for the purpose of paying […]

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IRS Releases 2016 HSA Limits & Specifications

IRS Rev. Proc 2015-30 – increases the Health Savings Account (HSA) maximum annual contribution for 2016 by $100 for families and leaves the single (Employee-Only) contribution at 2015’s level. Corresponding health plans remain the same. The corresponding HDHP plan (per IRC 223(c)(2)(A)) must be a health plan with an annual deductible that is not less […]

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IRS Releases 2013 HSA Limits

Breaking news!   The Internal Revenue Service has just released the 2013 cost-of-living-adjusted HSA limits.  The following takes effect for calendar year 2013. Annual contribution limits $150 increase (EE Only): The annual limitation on deductions for an individual with employee-only coverage under a high deductible health plan (HDHP) is $3,250 — up $150 from 2012. $200 […]

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